Bahrain Chamber Introduces Initiatives to Support Local Businesses Amid Economic Challenges

Bahrain, 25 September, 2024 : The Bahrain Chamber has unveiled three new initiatives to support local businesses in overcoming economic challenges, with backing from the government. These initiatives aim to enhance sustainability and social responsibility in the private sector.

Minister of Industry and Commerce Abdulla bin Adel Fakhro emphasized the need for strong governance in family businesses to ensure their long-term success, especially during generational transitions. He praised the Chamber’s new Family Business Governance Guide, designed to improve performance in this sector.

Chamber chairman Sameer Nass introduced the initiatives: 

1. Premium Support Path – Offers assistance to members in resolving financial and commercial disputes.

2. Execution Lab – Aims to enhance the legal and business environment through collaboration between the public and private sectors.

3. Family Business Governance Guide – Provides guidance to support the sustainability of family-owned businesses.

Nass highlighted the critical role of family businesses in Bahrain’s economy and the challenges they face in governance and management.

Source : www.zawya.com